C1 launches Online Auction Portal for Banks

C1 India has launched an online portal for the banking sector for the auction of distressed assets which are currently being auctioned manually. A complete list of properties that are on sale by various banks will be available on the application .People can participate in the online auction by logging in to their account.

With bankeauction.com, banks can create and publish events in a few easy steps and monitor the entire process online. This portal works well with all major browsers available such as Internet Explorer 8 and above, Safari, Google Chrome and Mozilla Firefox.

Each Auction is a highly confidential event conducted between the Auctioneer and a set of qualified Bidders on the Bank or DRT Auctions platform. And even then, a qualified Bidder can only view details of his own bids.

This portal also has an easy to use interface for both Bank users and Bidders with End to End solution – from creation of event to auction to reports, personalized pages with Logo and colour scheme of the bank.

Umesh Ranjan, CEO, C1 India, stated, “This portal provides advanced technology with simplicity in usage coupled with confidentiality and privacy.”

The list of banks who have signed up to avail this e-Auction Services include Andhra Bank, Bank of Baroda, Central bank of India, Bank of Maharashtra, Dena Bank, Punjab National Bank, IDBI Bank, Indian Overseas Bank, Punjab and Sind Bank, Oriental Bank of India, Indian Bank, and State Bank of Travancore.